LYNN – Big banks have had their bailout, and Ward 6 Councilor Peter Capano said it’s time for homeowners to have theirs.An ordinance designed to reduce the number of foreclosures in the city goes to the Lynn City Council Tuesday for a public hearing.”It will have a very positive impact if all the measures are left intact,” Capano said.”The Lynn Homeowners Bill of Rights is a cutting edge ordinance,” said City Council President Timothy Phelan, the driving force behind the proposal.Read the bill of rightsThe ordinance will, among other things, require big banks to sit down with homeowners for a mediation session prior to filing a foreclosure with the Southern Essex District Registry of Deeds.”It doesn’t force them to accept an agreement or not accept an agreement, but they have to meet,” Phelan said.Capano said he is hoping the face-to-face meeting will have a humanizing effect on how the loan holders deal with the homeowners. The issue can’t be resolved with a robo-call, he said.”Years ago you would sit down with a local banker. Now there is no human interaction,” he said. “Now you call a 1-800 number, and if you get anyone you’re lucky.”Once the mediation is finalized, both parties will receive a certificate of completion, and only then will the registry of deeds accept the foreclosure filing, Phelan said.”The teeth of the matter is the Register of Deeds will not accept a foreclosure deed without them completing the course,” he said.Register John L. O’Brien Jr. has said he will uphold the ordinance if approved, but the Massachusetts Bankers Association’s senior vice president, Jon Skarin, has said he doesn’t believe O’Brien has the authority to make such a decision.Isaac Hodes from Lynn United for Change, an anti-foreclosure advocacy group, said he is optimistic about the sustainability of the ordinance and the leadership shown by the City Council.”It kind of goes to show that the elected officials are a lot closer to the issue of neighborhoods getting hurt, and a lot further from Wall Street and its propaganda, than the people in Washington are,” he said.Capano said a state census shows that two of the most distressed neighborhoods in the commonwealth are in Lynn, one in his ward. He and Hodes both said they believe the ordinance will go a long way in reducing the number of vacant homes as well as the havoc wreaked when foreclosures do take place.Capano said he was hoping to see a similar bill come down from the federal government but that hasn’t happened. The state did offer a version, but Capano said it was so watered down it would have little effect.Hodes agreed, but he said he hoped the ordinance will do what the state and federal legislation has failed to do: help the homeowners.The only other community in the state that has a similar ordinance is Springfield, but Lynn’s proposal is a little tougher, according to Phelan.”It’s good,” he said. “It’s important.”Neither Phelan nor Capano are expecting much, if any, opposition during Tuesday’s hearing.”The feedback we’ve received is great,” Phelan said. “Every single person has been in favor of it.””This is long overdue,” Capano said. “That banks had their bailout now homeowners will have their own version of a bailout.”Tuesday’s hearing will be held in Council Chambers, City Hall, fourth floor at 8 p.m.Chris Stevens can be reached at [email protected].